Citi to move 1,200 Tokyo staff

Sunset in Tokyo, Japan

Citigroup will move its Japan headquarters and about 1,200 employees to a new building in Tokyo by the end of the third quarter, according to people familiar with the matter.

Bloomberg News reports that the New York-based firm will officially move the location of its main Japan office to the Otemachi Park Building from the Shin-Marunouchi Building on August 28, said the people, who asked not to be identified as the details haven’t been announced yet.

Employee relocations will start then and the workers - including bankers, analysts, sales and traders - are scheduled to be in the 9th, 10th and 11th floors of the new building by September 30, they said.

Bloomberg reported plans for the office move last year. The shift will bring Citigroup’s Japanese brokerage and banking operations together, helping to strengthen the businesses after the bank closed down its consumer-banking and card divisions in late 2015. The firm has hired about 20 bankers, analysts, economists, sales staff and traders in Japan in the past year.

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Citi to Move 1,200 Workers in Tokyo Office Shift

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